yes you could tell on the conference call that management were...

yes you could tell on the conference call that management were somewhat concerned that they did not know inventory levels of many of the corporate Daigou traders and probably CBEC channels as well.
This of course is a concern as management want to dump stock rather than discount to protect brand and pricing integrity which has some merit.
However clearly there is major discounting going on which is just further evidence that management are floundering.
You have to question how smart the BOD are........surely with there competitors discounting with similar products this was always going to happen.
Management seem to be at 6 months behind the game being played out right before their eyes...jeez when they all sold there shares they seemed to have a very good knowledge of things.......obviously just unable to fix it

Brand damage now occurring